“The formation of a government of national unity is a moment of profound significance. It is the beginning of a new era.” This was the statement made by Cyril Ramaphosa in his inaugural speech, at the Union Buildings, where he pledged himself to be a President for all South Africans and to work with everybody committed to “a better life for all”. The inauguration, which was overseen by Chief Justice Raymond Zondo, and attended by various heads of State as well as former Presidents Thabo Mbeki and Kgalema Motlanthe, marks Ramaphosa’s second stint as South Africa’s leader, but this time, not only backed by his political party, the African National Congress, but also by other parties that make up the GNU. After losing its outright majority in the May 29 national and provincial elections the ANC was forced to forge alliances with other parties to form a national government. In his speech on Wednesday, Ramaphosa compared the GNU to the one that was formed 30 years ago, following the end of Apartheid. “In their multitude, in voices that are many and diverse, the people of South Africa have voted and made known their wishes, their concerns and their expectations. We accept and respect the results of the elections and we once again say the people have spoken. Their will shall be done without any doubt or question. The voters of South Africa did not give any single party the full mandate to govern our country alone. They have directed us to work together to address their plight and realise their aspirations,” he acknowledged. The President conceded that there were many areas in basic service delivery where the previous government fell short – electricity, jobs, land, housing, food, healthcare, safety, corruption – and assured South Africans that he would work with any political party and sector willing to help tackle the challenges facing the country.

South African aircraft maintenance, repair and overhaul (MRO) concern, ExecuJet MRO Services South Africa, announced on Wednesday that it was on course to establish a new company record for airframe heavy maintenance checks this year. The enterprise specialises in business (also called executive) aircraft MRO services, and is a wholly-owned subsidiary of renowned French aerospace group Dassault Aviation. The new record that will be set this year will be for at least 11 airframe heavy maintenance checks. The South African company’s previous record was for seven such checks in a single year.

The majority of electric utilities in developing countries are ill-equipped to meet growing demand for power and add more renewable energy into the grid, thereby hindering global energy transition goals to provide clean, reliable and affordable electricity to all, development cooperation organisation the World Bank reports. 'The Critical Link: Empowering Utilities for the Energy Transition' report, published this week, showed that only 40% of developing country utilities are able to cover their operating and debt service costs.

Brickmaker Corobrik has outlined its plans for accessing prime clay at its Rietvlei operations, assuring that while it needs to remove coal deposits, it has no intention of becoming a coal producer. Natasha Odendaal has the story.

The global energy transition to a more equitable, secure and sustainable energy system is still progressing, but has lost momentum in the face of increasing uncertainty worldwide, international economic organisation the World Economic Forum's (WEF's) Energy Transition Index (ETI) 2024 shows. The global average ETI scores reached a record high, but the slowdown in the pace of the global energy transition, first identified in 2022, has intensified in the past year.

South African inflation was stable in May, data showed on Wednesday, but analysts do not expect interest rate cuts any time soon as it remains above the central bank's desired level. Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line with the forecast of economists polled by Reuters.

South Africa's competition watchdog has uncovered barriers to entry, distorted competition and price mark-ups in its fresh produce market, according to a provisional report released on Tuesday after an inquiry. Last year the Competition Commission launched the Fresh Produce Market inquiry in order to examine whether any features in the fresh produce value chain impede, restrict or distort competition in the market.

Consulting Engineers South Africa (Cesa) on Tuesday released its Bi-Annual Economic and Capacity Survey (BECS) findings, revealing a stark 22% decline from July to December of 23, marking the lowest level since 2019, at 32. The ongoing downturn persisted into early 2024, dropping further to 30 amid political uncertainty, corruption, and infrastructural constraints, according to Cesa.

JSE-listed Telkom on Tuesday posted an improvement in its financial results for the year ended March 31, 2024, supported by its next-generation offerings and cost-optimisation efforts. The group reported a 5.2% increase in normalised earnings before interest, tax, depreciation and amortisation (Ebitda) of R10-billion during the year under review, owing to stronger operational performance and cost-optimisation initiatives.

Botswana's economy may fall short of the government's 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints. Finance minister Peggy Serame made the projection for a 4.2% increase in GDP in a budget speech in February, saying the government expected growth to accelerate from 2023 due to an improved performance in the diamond sector. Gross domestic product grew 2.7% in 2023.